Add an entertainment workpaper to an Account

Modified on Wed, 01 May 2024 at 11:37 AM

  1. On the Trial balance page, locate the account that you want to add the workpaper to.
  2. From the Add Workpaper drop-down list, select Entertainment.
  3. Click the Entertainment link to open the worksheet.  
  4. Make the adjustment on the workpaper – enter any deductible expenditure in the Non-deductible and/or 50% deductible boxes.

    Tip: When you are making an adjustment on a workpaper, rather than enter a physical amount in a worksheet, you can enter a percentage or formula, for example “=50%”. The system applies the percentage or formula to the balance amount and calculates the adjustment amount for you. This is useful for future purposes. If you update the trial balance, the system retains your formula and applies it to the new balance amount.

  5. If you want to enter Non-deductible GST on entertainment adjustment, you can use the additional Return disclosure box to do so.

    Tip: If last year’s return was completed in TaxLab, you can use the ‘Rollover from prior period’ button to pull through the GST amount related to last year’s non-deductible entertainment adjustment.

  6. Optional: Change the default tax form disclosure.
  7. Optional: Add a notefile or query. .

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